Problem 4: Standing Tall is a roofing contractor of houses. Roofing normally is Done two months after the start of a house construction. Initially he relied on a simple linear trend regression forecast using just the months of the year and the number of roofing jobs generated. He felt there was something lacking in his forecasts. He decided to get the city hall housing permits per month to check the number of Jobs generated. 1. Set up the simple linear trend regression forecast using months and number of jobs. Is the regression model a good model? Why or why not? 2. Setup another model using months, permits and jobs. Determine if it is a good model 3. If so, determine the number of jobs generated for January the following year if 330 permits were issued. Month Permits Jobs Month Jobs 1 323 19 19 2 359 17 2 17 3 396 24 3 24 4 421 23 4 23 457 28 28 472 32 32 7 446 34 7 34 8 407 37 8 37 9. 374 33 33 10 343 30 10 30 11 311 27 11 27 12 277 22 12 22
Problem 4: Standing Tall is a roofing contractor of houses. Roofing normally is Done two months after the start of a house construction. Initially he relied on a simple linear trend regression forecast using just the months of the year and the number of roofing jobs generated. He felt there was something lacking in his forecasts. He decided to get the city hall housing permits per month to check the number of Jobs generated. 1. Set up the simple linear trend regression forecast using months and number of jobs. Is the regression model a good model? Why or why not? 2. Setup another model using months, permits and jobs. Determine if it is a good model 3. If so, determine the number of jobs generated for January the following year if 330 permits were issued. Month Permits Jobs Month Jobs 1 323 19 19 2 359 17 2 17 3 396 24 3 24 4 421 23 4 23 457 28 28 472 32 32 7 446 34 7 34 8 407 37 8 37 9. 374 33 33 10 343 30 10 30 11 311 27 11 27 12 277 22 12 22
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section: Chapter Questions
Problem 10T: Olympic Pole Vault The graph in Figure 7 indicates that in recent years the winning Olympic men’s...
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 3 images
Recommended textbooks for you
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning